5 Minutes Read
Exclusive: Godrej Group may finalise family settlement shortly, says CNBC-Awaaz report
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
The family group led by Adi and Nadir Godrej is likely to assume control over the majority of the listed companies within the conglomerate, according to a CNBC-Awaaz report. Meanwhile, the control over privately-held Godrej & Boyce is likely to shift to Jamshyd Godrej and Smitha Godrej.
The Godrej Group may finalise a family settlement shortly, according to a CNBC-Awaaz report on Tuesday, April 30. The family group led by Adi and Nadir Godrej is likely to assume control over the majority of the listed companies within the conglomerate, the report added.
The Godrej family settlement was ‘locked’ today with the elegance and dignity that the family is known for. No controversies, just all clean like their soaps. Good Knight!
— Harsh Goenka (@hvgoenka) April 30, 2024
Meanwhile, control over privately-held Godrej & Boyce is likely to shift to Jamshyd Godrej and Smitha Godrej. The settlement agreement is expected to address critical issues such as royalty, brand usage, and the development of the land bank, the report added.
Control over the group’s unlisted companies and land bank development is poised to be under the purview of Jamshyd Godrej and Smita Godrej. CNBC-Awaaz queries mailed to the Godrej Group remain unanswered.
#CNBCAwaazExclusive | Godrej Group may finalise family settlement shortly. Adi &Nadir Godrej family group likely to control most listed companies & Godrej & Boyce manufacturing company control likely to be with Jamshyd Godrej & Smitha Godrej, sources to @YatinMota pic.twitter.com/WGRNCrDUXb
— CNBC-TV18 (@CNBCTV18Live) April 30, 2024
The Godrej Group: A background
The Godrej Group includes five publicly listed companies: Godrej Consumer Products Ltd, Godrej Properties, Godrej Industries, Godrej Agrovet, and Astec Lifesciences.
| Name of the listed entity | Closing price as of April 30, 2024 | Market capitalisation |
| Godrej Consumer Products Ltd | ₹1,219.5 | ₹1,24,733 |
| Godrej Industires Ltd | ₹960.6 | ₹32,342 |
| Godrej Properties Ltd | ₹2,647.6 | ₹73,614 |
| Godrej Agrovet Ltd | ₹544.15 | ₹10,459 |
| Astec Lifesciences | ₹1,284.4 | ₹2,518.61 |
Source: BSE
Godrej and Boyce operate as a private entity. Godrej Industries & Associates is led by Adi and Nadir Godrej, while Jamshyd Godrej and his sister head Godrej & Boyce (G&B).
The $4.1 billion Godrej Group was established in 1897 by lawyer-turned-serial entrepreneur Ardeshir Godrej. Approximately 23% of the promoter holding in the Godrej Group is held in trusts that invest in the environment, health and education, as per the company’s website.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
